Tenet Healthcare Co. (NYSE:THC) Director J Robert Kerrey Sells 9,525 Shares

Tenet Healthcare Co. (NYSE:THC) Director J Robert Kerrey sold 9,525 shares of Tenet Healthcare stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $125.43, for a total value of $1,194,720.75. Following the completion of the transaction, the director now directly owns 27,378 shares in the company, valued at approximately $3,434,022.54. This represents a 25.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Tenet Healthcare Price Performance

Shares of NYSE THC opened at $121.11 on Thursday. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of 3.76, a PEG ratio of 1.02 and a beta of 2.06. Tenet Healthcare Co. has a fifty-two week low of $90.03 and a fifty-two week high of $171.20. The firm’s 50-day simple moving average is $132.57 and its 200 day simple moving average is $145.21. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.70 and a current ratio of 1.78.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.49. Tenet Healthcare had a net margin of 15.48% and a return on equity of 21.88%. As a group, research analysts anticipate that Tenet Healthcare Co. will post 12.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Raymond James lowered shares of Tenet Healthcare from a “strong-buy” rating to an “outperform” rating and set a $195.00 price objective on the stock. in a research note on Friday, November 22nd. KeyCorp cut their price target on shares of Tenet Healthcare from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. TD Cowen started coverage on Tenet Healthcare in a research note on Wednesday, February 26th. They issued a “buy” rating and a $175.00 price objective on the stock. StockNews.com raised Tenet Healthcare from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company cut Tenet Healthcare from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $205.00 to $150.00 in a report on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tenet Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

Hedge Funds Weigh In On Tenet Healthcare

Several hedge funds have recently modified their holdings of the company. Plato Investment Management Ltd purchased a new stake in shares of Tenet Healthcare during the third quarter valued at approximately $28,000. Colonial Trust Co SC grew its stake in Tenet Healthcare by 85.7% in the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company’s stock valued at $31,000 after purchasing an additional 114 shares during the period. GeoWealth Management LLC raised its stake in shares of Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company’s stock worth $37,000 after purchasing an additional 84 shares during the period. True Wealth Design LLC purchased a new position in shares of Tenet Healthcare in the 3rd quarter worth about $38,000. Finally, WR Wealth Planners LLC increased its holdings in Tenet Healthcare by 2,836.4% during the fourth quarter. WR Wealth Planners LLC now owns 323 shares of the company’s stock worth $41,000 after buying an additional 312 shares during the last quarter. Institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.